“Kick Out” Clauses a Valuable Tool in Real Estate Contracts. A kick out clause is called that because it allows a seller to continue showing the house for sale and to kick out the buyer if the seller receives an offer from another buyer without a home sale contingency. Generally, this is how a kick out clause works.
what does contingent with a kick out mean? In a nutshell, contingent with no kick-out means an offer has been accepted on the house and the seller cannot accept another buyers offer unless certain requirements are not satisfied.
Just so, what happens if a backup offer is made on a property when a kick out clause is in effect?
If the new offer is better than the existing offer, the seller can choose to accept the new offer. The contracted buyers have a specified time to remove the home sale contingency and proceed with the purchase.
What does active with kick out clause mean in real estate?
Active - Kick-Out means that a Purchase and Sale Agreement requires the buyer to purchase only if the buyer is able to sell their current home. Talk to a real estate agent if youre interested in a home listed as Active - Kick-Out.